Unipol Group: results for the first half of 2016 approved

Corporate
Thursday, August 4, 2016 - 07:11
Consolidated net profit of €276m (€446m in the first half of 2015, which benefitted extraordinarily from the results of financial management)
Direct insurance income of €8.4bn (-3.4% compared to the first half of 2015)
Non-Life business: €4.0bn (-1.7%)
Life business: €4.4bn (-4.8%)
Combined ratio net of reinsurance at 96.3% (97.2% in the first half of 2015)
Consolidated Solvency II margin equal to 140%1

The Board of Directors of Unipol Gruppo Finanziario S.p.A., which met yesterday under the chairmanship of Pierluigi Stefanini, approved the consolidated results of the Group at 30 June 2016.

In the first six months of the year the Unipol Group recorded a consolidated net profit of €276m compared to €446m recorded in the first half of 2015, a period benefitting in financial management from significant capital gains concentrated mainly in the first quarter of 2015 and not repeated in the current year.

The pre-tax result of the insurance business was a profit of €461m (€784m in the first half of 2015). Non-Life business contributed to this result with €268m (€534m in the first half of 2015) and Life business with €193m (€250m in the first half of 2015).

Direct insurance income during the period, gross of outwards reinsurance, stood at €8,408m (-3.4% compared to €8,701 at 30 June 2015).